The typical owner-occupied home in Boonville is worth about $162,400, 26% below the Indiana median of $218,200 and 51% below the national median of $332,700. Owners pay a median $1,271 a year in property taxes, about 0.78% of their home's value, higher than the Indiana rate of 0.74%. The median household earns $63,580 a year, so the median home costs 2.6 times the median income (3.0 times for Indiana). 67% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Boonville at a glance
| Boonville | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $162,400 | $218,200 | $332,700 |
| Median property tax paid per year | $1,271 | $1,614 | $3,119 |
| Property tax as a share of value | 0.78% | 0.74% | 0.94% |
| Median household income | $63,580 | $71,957 | $80,734 |
| Homes lived in by their owners | 67% | 71% | 65% |
| Owner homes with a mortgage | 59% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,138 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 16.4% | 18.1% | 21.0% |
| Median rent | $873 | $1,062 | $1,413 |
| Rent as a share of renters' income | 26.2% | 29.1% | 30.6% |
| Median year homes were built | 1965 | 1976 | 1980 |
| Vacant homes | 14.9% | 8.8% | 10.1% |
| Population | 6,702 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Boonville
At this week's average 30-year rate of 7.11%, buying the median Boonville home of $162,400 with 20% down costs about $1,047 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,318, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $44,880 for the 20%-down payment. That payment is 20% of the median Boonville household income of $63,580; at that income and 20% down, the 28% guideline points to a home of about $230,000.
The median rent here is $873 a month, so owning the median home costs about $174 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $32,480 |
|---|---|
| Loan amount | $129,920 |
| Principal and interest | $874 |
| Property taxes (0.78% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| PMI | $0 |
| Total per month | $1,047 |
Change the numbers in the calculator
| Down payment | $5,684 |
|---|---|
| Loan amount | $159,459 |
| Principal and interest | $1,073 |
| Property taxes (0.78% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $68 |
| FHA mortgage insurance | $72 |
| Total per month | $1,318 |
Change the numbers in the calculator
Questions about home buying in Boonville
What is the median home value in Boonville?
About $162,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Boonville?
Homeowners pay a median $1,271 a year, which is about 0.78% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Boonville?
For the median home with 20% down at 7.11%, the payment is about $1,047 a month. Keeping that under 28% of gross income takes about $44,880 a year.
More about Boonville
- Mortgage Refinance in Boonville
- Debt Relief in Boonville
- Home Equity Loans in Boonville
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data